Public Stakeholders' Perception of ICZM and Coastal Erosion in the Mediterranean

The Mediterranean area plays a pivotal role within the definition and implementation of regional strategies for integrated coastal zone management (ICZM). Under the umbrella of the Regional Framework Operation BeachMed-e, a research project was carried out in five Mediterranean EU regions (East Macedonia and Thrace in Greece, Lazio, Liguria, and Emilia Romagna in Italy and Languedoc-Roussillon in France), in order to study the different approaches to ICZM that have been applied and also to test new approaches to these regions. The aim of this article is to present and discuss the results of the common surveys conducted in order to investigate the institutional stakeholders’ perception on ICZM in the five Mediterranean regions considered. The results are presented region by region, while comparisons are carried out among regions. Summarizing the results it can be stated that some differences and common problems affecting the coastal decision-makers of the five Mediterranean regions considered were identified. Particularly, stakeholders involved in coastal management generally perceived a lack of collaboration and a poor information exchange in all the regions, resulting sometimes in a lack of awareness on coastal erosion issues.     

Integrating banks’ decision on financing dry bulk shipping: a multivariable approach

ABSTRACT

Shipping is characterized by extreme changes in revenues, operating expenses and asset values, making shipping banks’ final decision for financing shipping market considerably harder. This paper develops a practical decision tool based on the estimation of the credibility factor in the decision-making process, each bank’s policy, and the most significant variables arising from both its operating environment and the dry bulk market. Revealed relationships between bank’s internal environment, its own policy, and dry-bulk shipping market conditions through GDP growth of China constitute a newly presented decision framework in shipping finance. The values of credibility factor implicate either an aggressive or passive defensive strategy taking into account the GDP China changes: Consistent with the economic growth of China, a bank’s holds an aggressive policy if the credibility coefficient is about one. On the other hand, the model predicts that a less aggressive policy in combination with the increase of China’s GDP would drive to the decrease of bank’s loan grants.